In June 2014, financial close was reached for William Osler Health System Peel Memorial Centre Phase 1. The new Peel Memorial Centre in Brampton will support the William Osler Health System’s vision for an integrated health system by providing primary ambulatory and outpatient based care. The design, build, finance, maintain project has been financed by the Plenary Health consortium through the issuance of CAD 112.7m Series A Senior Bonds due 2046. The 20 year, senior unsecured bond carried a spread of 173 bps over the 2037 curve. It priced in late May at 99.828 with a coupon of 4.516% to yield of 4.556%. RBC Capital Markets was sole bookrunner and the bonds were sold to a small group of lifecos. The constructor is PCL and the facilities manager is Honeywell. Fasken Martineau advised the bondholders and bookrunner, with a team comprising Brian Kelsall, Ella Plotkin, Marc Lefler, Sean Morley, Nick Gefucia and Sean Stevens.